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Our proven model shows that Helmerich & Payne is likely to beat earnings because it has the right combination of two key factors.

Positive Zacks ESP: Expected Surprise Prediction or ESP (Read: Zacks Earnings ESP: A Better Method), the difference between the Most Accurate estimate of $1.32 and the Zacks Consensus Estimate of $1.28, stands at 3.13%. This is very meaningful and a leading indicator of a likely positive earnings surprise for shares.

Zacks Rank #3 (Hold): The stocks with Zacks Ranks of #1, #2 and #3 have a significantly higher chance of beating earnings. The sell rated stocks (#4 and #5) should never be considered while going into an earnings announcement.

The combination of Helmerich & Payne’s Zacks Rank #3 (Hold) and 3.13% ESP make us very confident in looking for a positive earnings beat on Jan 31, 2013.

What is Driving the Better Than Expected Earnings?

Helmerich & Payne remains relatively unscathed from any economic turmoil, as the company’s major work contracts are with well capitalized oil majors and the larger independent oil companies. Additionally, term contracts and shale drilling demand for its rigs have helped Helmerich & Payne maintain a relatively high level of utilization.

The positive trend is seen in the trailing four quarter average surprise of 8.35%. The company’s fourth-quarter 2012 surprise was 9.68% owing to better drilling activities and innovative technological applications.

Other Stocks to Consider

Other companies you may want to consider on the basis of our model which shows that they have the right combination of elements to post an earnings beat this quarter are as follows:

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At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +25% per year. These returns cover a period from 1988-2017. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. The monthly returns are then compounded to arrive at the annual return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zack Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations.

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